Capital One makes a deal to purchase price tracking service Paribus

7 October 2016

An American credit card holding company Capital One, according to the recent information, is purchasing the price tracking fintech firm Paribus. The terms of the deal are not disclosed. The fintech startup Paribus has been on the market for two years already. It is offering consumers to check the prices of the items they have purchased recently if they are reduced after which consumers may request the merchants to provide cash back for the difference in the prices.

It is the latest acquisition in a row of financial technology companies purchased by Capital One in recent years. Meantime, Paribus has accumulated over 700,000 users to date.

Under the terms of the deal, as reported, Paribus will be transferred to the ownership of Capital One with its assets and the personnel.

Customers subscribing to Paribus service get alerts on the price reductions on the purchases they have made recently. The service may be integrated into any email service, including Gmail, Yahoo, Outlook and others. It scans the inbox for recent receipts on the purchases made and then checks in its base if there are any stores or merchants offering the same item for lower price or if there have been made any reductions on the item. Many customers do not know of such opportunity to return back the difference between the price they paid and the new reduced prices.